Print
Tether Begins Testing and Integration of Veriscope, Shyft Network’s Solution to the Travel Rule

Leading stablecoin commences active testing of the public utility and application stack for solving the Financial Action Task Force (FATF) Travel Rule.

Tether Operations Limited (“Tether”), the company operating the blockchain-enabled platform tether.to, that powers the largest stablecoin by market capitalization, announced today that it has commenced operations with Shyft Network starting with active testing of Veriscope, its decentralized compliance framework and smart-contract solution to the Financial Action Task Force’s (FATF) Travel Rule.

Veriscope links user consent-permissioning with VASP-to-VASP data transmission and ensures VASPs can determine between honest transactions and data attacks. It was designed to act as a decentralized coordination and discovery system, open for any VASP or intermediary as a public utility for data attestation and routing. The platform provides a decentralized compliance framework and a smart contract platform for VASPs to enable Travel Rule compliance and aims to meet meets the growing demands of the rising regulatory efforts that have commanded attention and action across cryptocurrency, DeFi, NFTs, stablecoins, and many other elements of blockchain technology.

This integration marks the initial phases of Tethers’ trial of Veriscope which may allow Tether to offer its customers an experience that both promotes privacy while also solving global compliance requirements for all participants across the ecosystem. The goal of this trial is to create an experience for customers that maintains openness and ensures peer-to-peer transaction discovery that is compliant with the new FATF Travel Rule requirement.

“We built Shyft to ensure that the ethos of digital asset networks was maintained regardless of the regulatory requirements that would come,” said Joseph W. of Shyft Network. “We are excited to see this public system be put to work by the largest players globally, and are proud to see leading stablecoins, like Tether, maintain decentralization while allowing the ecosystem to meet regulations. We see systems like Veriscope, and networks like Shyft, as critical infrastructure layers to the future of decentralized data coordination and transmission.”

In August of this year, Shyft Network, in collaboration with Tether, Bitfinex and other exchanges, key industry players, and liquidity providers announced the global deployment of Veriscope, a public utility and application stack for solving the Financial Action Task Force (FATF) Travel Rule. Just a few days ago, Shyft Core, the development team behind Veriscope, announced the open-source release of the infrastructure to enable developers and other VASPs to freely integrate with the platform, Tether will be one of the first to put this infrastructure to the test.

“Veriscope’s opensource solution to discovering VASPs and transmitting customer information is an interesting use case that’s in line with the ethos of Bitcoin” said, Leonardo Real, CCO of Tether. We look forward to continuing to lead the charge”.

latest news

Tether Supports Canadian Law Enforcement in Recovery of 460,000 USDT from Investment Fraud Scheme

15 September 2025 – Tether, the largest company in the digital assets industry, announced today that it assisted the Royal Canadian Mounted Police (RCMP) in recovering approximately 460,000 USDT that was connected to a sophisticated investment fraud scheme targeting an Ontario resident. On July 3, the RCMP Federal Policing Criminal Operations Virtual Assets team executed […]

Learn more
Tether Unveils USA₮, its Planned U.S.-Regulated Dollar-Backed Stablecoin, and Will Appoint Bo Hines as CEO of Tether USA₮

The introduction of USA₮ and appointment of Bo Hines marks Tether’s next chapter in strengthening U.S. dollar dominance through transparency and innovation 12 September 2025 – Tether, the largest company in the digital asset ecosystem, today unveiled USA₮, its planned U.S.-regulated, dollar-backed stablecoin, along with the announcement and appointment of Bo Hines as Tether USA₮’s […]

Learn more
Tether Provides Update on Transition Plan for Legacy Blockchains

29 August 2025 – Tether, the largest company in the digital asset ecosystem, today announced an update to its transition plan for five legacy blockchains: Omni Layer, Bitcoin Cash SLP, Kusama, EOS, and Algorand. More than a year ago, in July 2024, Tether announced plans to wind down support by ceasing redemptions and freezing USD₮ […]

Learn more
Read all news